2024-28 Capital Improvement Plan

General Fund Projections Baseline Data  Revenue and expenditures projections are based on current year budgeted amounts (2023).

Revenues (inflationary assumptions)  Property taxes – 4.25% annnual increase needed to support expenditure assumptions.

 Licenses and permits – 3.00%  Intergovernmental ‐ 3.00%  Charges for services – 3.00%  Other Revenues ‐ 0.00%

Expenditures

 General Government – 2.75%  Public Safety – 3.25% (additional .50% based on personnel)  Public Works – 2.75%  Parks & Recreation – 2.75%  Other – 0.00%

Additional Information  City’s fund balance policy is to maintain a General Fund unassigned fund balance of 35 to 50% of the following year’s budgeted expenditures.  Taxable market value, net tax capaicty and median value home data is from Scott County for taxes payable 2023 and projected out to future years. The taxable market value and net tax capacity is projected to increase 5% annually, which the median value home is projected to increase 4% annually.  Number of households and population data is based on the 2020 Census, Met Council estimates and their 2030 forecast. Equal annual adjustments have been made based on these long range forecasts.

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